Digital Business Strategy (DBS) model and the five implementation steps
Adopting a digital business strategy (DBS) requires organizations to undergo technological knowledge changes, business model process changes and innovation. The idea is to facilitate a strategically channeled digital approach to business challenges. Technology can be used to change and improve the way customer centric business operates and interacts with its customers,suppliers, employees and community.
Digital driven culture, don’t just adopt digital technology you have to embrace it. Technology is not the business but a driver of innovative business . Going beyond building solutions to connect but solutions through collaboration. Digital technologies makes it is easier to generate maximum innovation in a short amount of time. Infrastructure investment for ERP and CRM platforms is costly, but with SaaS via cloud platforms that investment cost is reduced. Microsoft Dynamics 365, delivers sales, accounting, purchasing and business intelligence with cloud based ERP and CRM value immediately with no investment in servers or infrastructure.
Design Thinking culture., allow creative works whilst considering people (desirable value for customers) with business (what is economically possible) and the technology (feasibility of solutions). A CEO of a leading wholesaler was excited at how digital is presented an opportunity to do a number of things with customers such as improving access, improving business effectiveness, and enabling new value propositions and models.
Data driven culture, stay informed or you will get left behind, use data proactively than re-actively. If you don’t use data and design to fix the way customers interact with your brand, then you will get disrupted by competitors using digital as a tool to take rapidly enter new markets.
Innovation driven culture, having a learning organisation where research and innovation is practically implemented in these areas ; processes, service, products, business model, or competitive disruption.
There is real opportunity is to grow economic activity for small to medium enterprises (SMEs) and larger enterprises globally as companies begin to utilize digital technologies but the first step is to adopt a digital vision and culture in the strategy.